REMARKS:

The property has current approvals for a 40 unit senior independent living facility. Improvements consisting of finished sidewalks, lighting, curbs, gutters and street paving, along with utility main service lines along the frontage have already been installed. Additionally, all Nipomo Community Service District (NCSD) water and sewer connection fees totaling approximately $125, 000 have been prepaid. The larger 2.58 acre parcel thatfronts Hwy 101 is designated as open space, but will be incorporated into the project to add walking trails and seating/gathering areas to complement the project. An adjoining off site retention pond serves the property. The project also has access to an additional 10 parking spaces within the adjacent assisted living facility. The current zoning is Commercial Retail which allows for a variety of retail and commercial uses, along with limited residential uses. The property appraised for $1, 500, 000 in October of 2016.Senior housing is booming in the state of California, with many new assisted living facilities and independent living projects having been built throughout the state in the past 5 years. Nipomo, located in the beautiful Central Coast, is a highly attractive area for retirement. Demand for senior housing is expected to grow throughout the state, and within areas considered affordable like Nipomo. Furthermore, the project benefits from its proximity to local shopping and the assisted living facility on the adjoining parcel.

FEATURES:

FINANCIAL:

Based on information from California Regional Multiple Listing Service, Inc. as of 12/12/2017. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.